Public choice analysis indicates that politicians will find
a. budget deficits more attractive than budget surpluses.
b. budget surpluses more attractive than budget deficits.
c. budget deficits attractive during an economic boom, but surpluses attractive during a recession.
d. tax increases more attractive than increases in government spending.
A
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The short-run aggregate supply curve shows ________ while the long-run aggregate supply curve shows ________.
A. output; aggregate spending B. potential output; aggregate spending C. the current inflation rate; potential output D. potential output; the current inflation rate
As the price level ________, the purchasing power of money ________
A) decreases; stays the same B) increases; decreases C) decreases; decreases D) increases; increases
The federal law that prohibits, among other things, "unfair" competition and created the Federal Trade Commission is the:
A) Sherman Act of 1890. B) Clayton Act of 1914. C) Federal Trade Commission Act of 1914. D) Celler-Kefauver Act of 1950.
The total cost to build 8 tract houses is $1,000,000. Total cost to build 9 tract houses $1,050,000. What is the Margin cost of the 9th tract house?
What will be an ideal response?